DCU spin-out AmbiSense – a maker of environmental IoT sensors – has secured €1m in funding to help further its international expansion.
Founded as a research project within Dublin City University (DCU) in 2008, AmbiSense went on to become an Enterprise Ireland High Potential Start-Up in 2014, led by co-founders Stephen McNulty, Dr Fiachra Collins and Prof Dermot Diamond.
Working within the booming field of the internet of things (IoT), the company designs and manufactures low-cost, smart, solar-powered, gas monitoring instruments and networks.
Expanding R&D activities
Last year, the company released GasfluX, the world’s first online, continuous and adaptive-ground gas risk assessment platform for use in land remediation, oil and gas, and waste management applications.
AmbiSense recently revealed it has secured €1m as part of a funding round led by Atlantic Bridge’s University Bridge Fund with support from existing investors including Enterprise Ireland.
The company said that with this additional funding, it will be able to expand its operations and develop next-generation sensor technologies for international markets.
AmbiSense CEO Stephen McNulty said: “Since launching GasfluX last year, customer feedback has been incredibly positive.
“We now wish to rapidly expand our commercial presence and accelerate our R&D activities. The opportunities to bring data analytics and a service model to traditional land asset management are exciting.”
One of 31 adopted start-ups
Meanwhile, Atlantic Bridge venture partner Chris Horn said: “Atlantic Bridge is delighted to welcome AmbiSense to our growing portfolio of early-stage companies in the university fund.
“The company strongly represents the commercial strength of world-class academic research undertaken in Ireland, and illustrates how the University Bridge Fund can accelerate the global growth of such opportunities.”
Last January, AmbiSense was included among the 31 start-ups chosen for Google’s Adopt a Startup programme, receiving 12 weeks of hands-on mentoring, and access to exclusive lectures and workshops.